Investment House LLC Sells 5,912 Shares of Intuit Inc. (NASDAQ:INTU)

Investment House LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 86,297 shares of the software maker’s stock after selling 5,912 shares during the quarter. Intuit makes up approximately 3.0% of Investment House LLC’s investment portfolio, making the stock its 8th largest holding. Investment House LLC’s holdings in Intuit were worth $54,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new position in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,646 shares of company stock worth $72,494,045. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.5 %

Shares of Intuit stock opened at $599.03 on Wednesday. The stock has a market capitalization of $167.47 billion, a P/E ratio of 58.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $597.44 and a 200 day simple moving average of $623.29. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.